§ 23-5-2-1 — Formation of association

Any number of persons not less than ten (10)
may voluntarily associate themselves by written articles, to be signed
and acknowledged by them before some disinterested person
authorized by law to take acknowledgment of deeds, specifying in the
written articles the objects of the organization, the corporate name they
may adopt, the amount of capital stock and numbers of shares into
which the same shall be divided, the names and number of the officers
to be elected to manage the business and prudential concerns of such
association, the manner of their election, the name and place of
residence of each member or stockholder, and, (if a stock capital is
subscribed), the amount and number of shares subscribed by each.
Formerly: Acts 1875, c.5, s.1. As amended by P.L.136-2018,
SEC.131.